James Bisgrove shares what impact Michael Beale sacking had on Rangers finances ahead of January window
Rangers chief-executive James Bisgrove has revealed the club are set to report a profit for the second successive year at their upcoming Annual General Meeting, despite sacking two managers.
The Gers have parted company with Giovanni van Bronckhorst and more recently Michael Beale over the past 12 months, with Philippe Clement now at the Ibrox helm.
However, Rangers remain in the black despite paying off both managers, which can be considered a positive for Clement ahead of the January transfer window.
Speaking at a Q&A with fans, Bisgrove is quoted by The Scottish Sun [8 November] as saying: “In the next week or two we will release financial results and we will record a profit for second successive season. The departure of previous managers hasn’t impacted that.”
Asked specifically about the sacking decisions, the Gers chief added: “The board have been very supportive of decisions. From a debt perspective, there is no external debt from those decisions.”
Positive news
Rangers reported an operating profit last year for the first time in over a decade and remain in the black, despite getting through a couple of managers and failing to win any silverware.
Returning to the Champions League for the first time in 11 years, on the back of reaching the Europa League final the previous season, will no doubt have helped.
Ultimately, it means that money should – should! – be available for Clement to bring in at least one new signing in the January window as he begins to turn this into his own side.
Beale was like a kid in a sweet shop in the summer window – and it may well be that the Gers make a loss in 12 months’ time depending on how those deals pan out – whereas a smarter approach will be taken with Clement.
That is not to say the Belgian cannot have his say on who is brought in, but the club must ensure any signings have been scouted in depth to avoid any more flops being recruited. All-in-all, though, this is a very positive development.
In other Rangers news, a journalist has reacted to a “harsh” decision made on Wednesday (8 November) following the release of a statement.